Commerce Bank grew its holdings in PerkinElmer, Inc. (NYSE:PKI) by 66.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,151 shares of the medical research company’s stock after acquiring an additional 4,466 shares during the quarter. Commerce Bank’s holdings in PerkinElmer were worth $1,400,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Signaturefd LLC boosted its position in shares of PerkinElmer by 8.3% in the third quarter. Signaturefd LLC now owns 1,101 shares of the medical research company’s stock valued at $138,000 after acquiring an additional 84 shares during the period. US Bancorp DE boosted its position in shares of PerkinElmer by 5.3% in the second quarter. US Bancorp DE now owns 1,876 shares of the medical research company’s stock valued at $184,000 after acquiring an additional 95 shares during the period. State of Michigan Retirement System lifted its position in PerkinElmer by 0.4% in the third quarter. State of Michigan Retirement System now owns 28,570 shares of the medical research company’s stock worth $3,586,000 after purchasing an additional 100 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in PerkinElmer by 1.5% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,836 shares of the medical research company’s stock worth $857,000 after purchasing an additional 100 shares during the period. Finally, Glenmede Trust Co. NA lifted its position in PerkinElmer by 45.3% in the second quarter. Glenmede Trust Co. NA now owns 369 shares of the medical research company’s stock worth $36,000 after purchasing an additional 115 shares during the period. 92.23% of the stock is owned by institutional investors.
Shares of NYSE:PKI opened at $128.67 on Thursday. PerkinElmer, Inc. has a twelve month low of $62.91 and a twelve month high of $142.65. The firm has a market cap of $14.41 billion, a PE ratio of 48.92, a price-to-earnings-growth ratio of 1.74 and a beta of 1.30. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.91 and a current ratio of 1.32. The business has a fifty day moving average of $128.37 and a 200-day moving average of $112.34.
PerkinElmer (NYSE:PKI) last announced its earnings results on Wednesday, October 28th. The medical research company reported $2.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.67. PerkinElmer had a return on equity of 18.40% and a net margin of 9.87%. On average, analysts anticipate that PerkinElmer, Inc. will post 5.45 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 12th. Stockholders of record on Friday, January 22nd will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, January 21st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.22%. PerkinElmer’s dividend payout ratio (DPR) is presently 6.83%.
Several research analysts recently commented on PKI shares. Wells Fargo & Company raised their target price on PerkinElmer from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 29th. Smith Barney Citigroup raised their target price on PerkinElmer from $120.00 to $140.00 in a research report on Thursday, October 29th. Needham & Company LLC raised their target price on PerkinElmer from $139.00 to $193.00 and gave the stock a “buy” rating in a research report on Monday, November 9th. JPMorgan Chase & Co. raised their target price on PerkinElmer from $85.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Finally, The Goldman Sachs Group began coverage on PerkinElmer in a report on Thursday, November 12th. They set a “buy” rating and a $50.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $110.25.
In related news, insider James M. Mock sold 5,623 shares of PerkinElmer stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $124.41, for a total value of $699,557.43. Also, insider Andrew Okun sold 6,107 shares of PerkinElmer stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $140.14, for a total value of $855,834.98. Following the completion of the sale, the insider now owns 16,417 shares of the company’s stock, valued at $2,300,678.38. The disclosure for this sale can be found here. Company insiders own 0.62% of the company’s stock.
PerkinElmer Company Profile
PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers a suite of solutions, including reagents, informatics, and detection and imaging technologies that enable scientists to enhance research breakthroughs in the life sciences research market, as well as laboratory services.
See Also: Earnings Per Share
Want to see what other hedge funds are holding PKI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PerkinElmer, Inc. (NYSE:PKI).
Receive News & Ratings for PerkinElmer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PerkinElmer and related companies with MarketBeat.com's FREE daily email newsletter.